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November 14, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Pepper Pike, Business Loans > Citizens Bank Pepper Pike Business Loans > Commercial And Institutional Building Construction Loan | ||||
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How Do We Get a Business Loan in Brook Park, Ohio?
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SBA Loans for Commercial and Institutional Building ConstructionLooking for SBA loans for commercial and institutional building construction? Talk to a banker who works with the SBA. This $325,000 commercial and institutional building construction loan was issued by an Ohio bank. Getting a small business loan in Brook Park, Ohio was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank, operating out of Pepper Pike, Ohio. Here are the details on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION SBA Loan Lender CITIZENS BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 233320 - Commercial and Institutional Building Construction Loan Approval Date 4/18/2002 Loan Approval Gross Amount $325,000 Loan Approval from the SBA Of the total $325,000 loan amount, the SBA guaranteed $243,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Find an SBA Lender in Pepper Pike, Ohio
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